The head of MBC’s biggest shareholder announced his intent to resign under pressure over allegations that he plagiarized his doctoral thesis, the organization said Tuesday.

“Kim Jay-woo, chairman of the Foundation for Broadcast Culture (FBC), will convene an extraordinary board meeting at 8 a.m. Wednesday to officially announce his intent to resign before all board members and submit a letter of resignation to the Korea Communications Commission (KCC), through the foundation,” said Choi Chang-yeong, secretary-general of the foundation.

The FBC, which holds a 70 percent stake in the nation’s second-largest public broadcaster, was set up in 1988 to oversee MBC after taking over the shares from the government. Its members are currently appointed by the KCC, the country’s broadcasting watchdog.

Kim, 68, came under mounting pressure to step down after he was accused in January of plagiarizing major portions of his doctoral thesis for Seoul’s Dankook University from another paper. Kim later filed a request for a review, but the university denied the request last month and is taking steps to cancel his doctorate in economics.

The former chairman of Byucksan Engineering and Construction Co. became the FBC chairman in May 2010 and won a second term in August. His term was due to expire in August 2015. (Yonhap News)